Word: discountable
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Dates: during 1950-1959
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...week's end the reduction on G.E.'s lines and those of the other Fair Traders hit 50% in some stores, but retailers thought they would soon settle down to the 25%-to-35% discount pattern U.S. consumers have come to accept as standard for appliances. Said Discounter Masters: "I congratulate G.E. on finally recognizing the truth of what we've been saying for years-that Fair Trade is unfair to consumer and manufacturer alike...
...this touched off a wave of frenzied price cutting in many cities, as everyone tried to undercut the competition. Manhattan stores sold $39.95 G.E. clock radios for $27.95; Los Angeles retailers chopped waffle irons from $22.95 to $15.88; Chicago's Sol Polk cut his discount prices on electric skillets from $12.95 to $9.98, and hurried to order another 10,000 small appliances. Yet in many other U.S. cities, the news stirred hardly a ripple. In Washington, D.C., Detroit, Dallas, Denver and dozens of other markets, Fair Trade on these items has long since died. Said a Milwaukee department-store...
Congratulations. Last fall G.E. took the knockout punch. It had brought suit against Manhattan's Masters Inc., whose 44-year-old boss, Stephen Masters, has built a $45 million-a-year discount business, selling everything at 20% to 45% off list. After G.E. won the suit against Masters in New York. Masters opened a mail-order discount business in Washington, D.C., which has no Fair Trade law. Masters offered merchandise for sale anywhere, including Fair Trade states. G.E. sued again, but when the U.S. Supreme Court refused to review a lower-court decision in favor of Masters...
...even the discount houses had any idea that cut-rates would snowball so far so fast. To compete with low-overhead discounters, even the biggest stores run frequent "warehouse sales," "specials," "closeouts," trading at 10% above cost v. the standard 30% to 40% markups. Originally, the big stores restricted competition to a few fast-selling items; now they match discounters dollar for dollar. Brooklyn's Abraham & Straus, Los Angeles' Barker Bros., Jordan, Marsh Co. have started running almost identical ads proclaiming an old retailing slogan: "We Will Not Be Undersold." Milwaukee's Boston Store last week advertised...
...Post Office expenses was made in 1926, first class mail has consistently paid far more than its cost. The rate hike proposal recently approved by the Senate will increase even more the proportion of postal service supported by first class revenue. In effect, it will give a larger discount rate to the major magazine concerns and the advertisers who flood the post office with "junk mail...